Taxpayer Identity Theft

As the 2015 tax filing season starts, the nation’s fastest growing crime involves stealing taxpayer Social Security numbers to file for false refunds. Taxpayers who are unlucky enough to be the victim of this growing threat face

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Tax Return Due Dates: Changes Coming

The Surface Transportation and Veterans Health Care Choice Improvement Act of 2015, which was signed into law by the President on July 31st, 2015, may not have received as much press coverage as the recently enacted PATH Act (which clarified many of the tax extenders that individual and business taxpayers have come to rely on);…

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Implementing a Succession Plan – Using a Buy-Sell Agreement

A co-owner of a closely held family business should carefully consider what would happen to the business in the event of his or her death or the death of a co-owner. Many issues come to mind, including whether the business would be able to survive. Family members might find it necessary to liquidate the business…

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Developing a Business Succession Plan

Few business owners plan their exits from their businesses with as much care as they planned their entries. Just as every owner starting out needs a business plan, every owner looking to retire needs a succession plan to help transfer ownership and to achieve his or her retirement goals.

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IRS Letters and Replies

You just received a letter from the Internal Revenue Service (IRS) and your first thoughts, after panic subsides (or not), might be: I have never been audited before; how can I get this over with as fast as possible; why me; how much more am I going to have to pay; what did I do…

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Living Trusts and Powers of Attorney

In my previous article I addressed the importance of having a will and estate planning. As part of the estate planning process, a Power of Attorney will likely by discussed and possibly the use of a Living Trust. It is important to understand each of these instruments.

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